Outcome of the Meeting of the Board of Directors of the Magnus Retail and Infra Limited held today i.e Monday 6th October 2025.
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The board of Magnus Steel and Infra Ltd approved a Rights Issue of up to Rs. 49.50 crore, comprising 4.90 crore fully paid-up equity shares of Rs. 10 each, to be issued at par (Rs. 10 per share) with no premium. The entitlement ratio is 2 shares for every 29 shares held, meaning eligible shareholders will receive rights entitlements based on shareholding as of the Record Date fixed for Friday, October 10, 2025. The issue opens on October 16, 2025 and closes on November 14, 2025, with the full Rs. 10 per share payable on application itself. Assuming full subscription, the total equity share count will rise from about 33.8 lakh shares to roughly 5.24 crore shares.
Existing shareholders will need to subscribe to their rights entitlements by November 14 to avoid dilution; since shares are being issued at par (no discount), the attractiveness depends on the prevailing market price versus Rs. 10, with no premium-driven upside for renouncees.